Wal-Mart de Mexico to spend 15 billion pesos on 2014 capex

lunes 24 de febrero de 2014 20:20 GYT

MEXICO CITY Feb 24 (Reuters) - Mexico's Wal-Mart de Mexico will spend 15 billion pesos ($1.13 billion) in capital expenditures in 2014, Chief Financial Officer Rafael Matute told analysts on Monday.

The company will spend more than half of that sum, or about 8.4 billion pesos, opening new stores, increasing its floor space by 5.2 percent from 2013, he said.

Walmex, which last week reported a sharp drop in its fourth-quarter profit, has been struggling with a sharp drop in consumer spending in Latin America's No. 2 economy.